RCS Capital Corporation is to purchase J.P. Turner & Company, an independent brokerage and investment banking firm, and its affiliated investment advisory company, J.P. Turner & Company Capital Management.
Following the acquisition, J.P. Turner will help to further diversify RCAP's revenue base, which presently is derived from its wholesale distribution business, investment banking and capital markets services activities, investment management work, and transaction management and transfer agency lines of business.
William Kahane, CEO of RCAP, said: "J.P. Turner offers its investor clients a compelling mix of leading-edge technology, access to incisive third-party research, and top performing non-proprietary investment products."
